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Trend Trading Strategy Is Biggest Winner in $4 Trillion Currency Market

Courtesy of Bloomberg

Charts that interest me

Fund Managers

If ever you have wondered why fund managers are so universally ordinary at their jobs – other than clinging to outmoded ideas such as the EMH and associated rationality concepts this might give you an idea.

Do Fund Managers Identify and Share Profitable Ideas?

Abstract

We study data from an organization in which fund managers privately share investment ideas. Evidence suggests the investors in our sample have stock-picking skills. A strategy of going long (short) buy (sell) recommendations earns monthly calendar-time abnormal returns of 1.38% (-2.91%) over the January 1, 2000 to December 31, 2008 sample period. Interestingly, these skilled investors share their profitable ideas. We test predictions from private information sharing theories and determine that the managers in our sample share ideas to receive constructive feedback, gain access to a broader set of actionable ideas, and to attract additional arbitrager capital to their asset market.

Booko

I have whinged before about the cost of books and DVDs in Australia. The predominant business model for retailers of such wares has been based upon the concept of ripping people off for as much as possible. Fortunately, as the long overdue demise of both Borders and Angus and Robertson has shown consumers are becoming more savvy and simply wont tolerate this sort of behaviour.

Our mentor program requires folks to do a fair bit of reading and we are always looking for suggestions as to how to keep the costs of this down. One of the crew suggested Booko a site I had never heard of. Essentially it is a web crawler that scours the internet looking for the cheapest price for a book landed in Australia.

The image below shows the output of the search. I just clicked on Greys Anatomy from their list of most popular searches and it returned the following list. You can see the extraordinary differences in price, from $A54.37 from Amazon in the UK to $A260.95 offered by Angus and Robertson…….who would have guessed they would have been the most expensive.

Booko

I have whinged before about the cost of books and DVDs in Australia. The predominant business model for retailers of such wares has been based upon the concept of ripping people off for as much as possible. Fortunately, as the long overdue demise of both Borders and Angus and Robertson has shown consumers are becoming more savvy and simply wont tolerate this sort of behaviour.

Our mentor program requires folks to do a fair bit of reading and we are always looking for suggestions as to how to keep the costs of this down. One of the crew suggested Booko a site I had never heard of. Essentially it is a web crawler that scours the internet looking for the cheapest price for a book landed in Australia.

The image below shows the output of the search. I just clicked on Greys Anatomy from their list of most popular searches and it returned the following list. You can see the extraordinary differences in price, from $A54.37 from Amazon in the UK to $A260.95 offered by Angus and Robertson…….who would have guessed they would have been the most expensive.

Fund Managers

If ever you have wondered why fund managers are so universally ordinary at their jobs – other than clinging to outmoded ideas such as the EMH and associated rationality concepts this might give you an idea.

Do Fund Managers Identify and Share Profitable Ideas?

Abstract

We study data from an organization in which fund managers privately share investment ideas. Evidence suggests the investors in our sample have stock-picking skills. A strategy of going long (short) buy (sell) recommendations earns monthly calendar-time abnormal returns of 1.38% (-2.91%) over the January 1, 2000 to December 31, 2008 sample period. Interestingly, these skilled investors share their profitable ideas. We test predictions from private information sharing theories and determine that the managers in our sample share ideas to receive constructive feedback, gain access to a broader set of actionable ideas, and to attract additional arbitrager capital to their asset market.

Charts that interest me

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